Hi all, a friend asked to borrow money from me. I normally would have just lent to him but another friend was telling me that it's not legal to charge interest, otherwise you will be considered an illegal money lender. I was thinking of tapping on a credit line that I have and charge the same or slightly higher interest. Now, if I lend the money to my friend at no cost, I will have to absorb the interest payments on my end, which obviously does not make sense... does anyone know for a fact whether it's truly illegal to lend money and charge interest?